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MarketScreener Homepage  >  Equities  >  Xetra  >  Comdirect bank AG    COM   DE0005428007

COMDIRECT BANK AG

(COM)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 10/30 03:45:58 pm
13.85 EUR   -0.07%
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comdirect bank : Exceptionally high result in Q1 for comdirect due to market volatility

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04/09/2020 | 09:28am EDT

Quickborn, 09.04.2020

  • Q1 2020 pre-tax profit: more than €75 million
  • Forecast for the full year 2020 remains unchanged at this point in time

According to preliminary figures, comdirect bank AG expects a pre-tax profit of more than €75 million for the first quarter 2020 (prior year: €12.5 million). The reason for the exceptionally strong quarterly result is high trading activity of customers due to volatile markets. 'In the context of the current exceptional situation and the related very high volatility on stock exchanges, our customers have traded more than ever before in the first quarter of 2020', says Frauke Hegemann, CEO of comdirect bank AG. In the first quarter, record trades (12.0 million) resulted in significantly higher net commission income, while administrative expenses remained stable.

The impact of the current economic situation on the economy overall as well as on the company are currently not quantifiable. Therefore, our last published forecast for the full year 2020 of €100 to 120 million in pre-tax profit remains unchanged at this point in time.

Note:
Further details will be published at the time of publication of the full Q1 results on 28 April 2020. Recent figures on customer trades, as well as growth in customers or executed orders for the first three months are available in separate press releases (monthly figures) from 7 April, 6 March and 7 February on www.comdirect.de/press.

Disclaimer

comdirect bank AG published this content on 09 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 April 2020 12:27:00 UTC


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Financials
Sales 2020 494 M 576 M 576 M
Net income 2020 148 M 172 M 172 M
Net Debt 2020 - - -
P/E ratio 2020 13,2x
Yield 2020 0,60%
Capitalization 1 957 M 2 281 M 2 279 M
Capi. / Sales 2020 3,96x
Capi. / Sales 2021 4,42x
Nbr of Employees 1 135
Free-Float 9,71%
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Technical analysis trends COMDIRECT BANK AG
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 3
Average target price 13,77 €
Last Close Price 13,86 €
Spread / Highest target 2,45%
Spread / Average Target -0,67%
Spread / Lowest Target -2,60%
EPS Revisions
Managers
NameTitle
Frauke Hegemann Chief Executive & Operating Officer
Jochen Sutor Chairman-Supervisory Board
Sabine Schmittroth Member-Supervisory Board
Sandra Persiehl Member-Supervisory Board
Verena Pausder Member-Supervisory Board
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